Evolv Technologies Target of Unusually High Options Trading (NASDAQ:EVLV)

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw unusually large options trading on Tuesday. Stock investors acquired 5,513 call options on the stock. This is an increase of 1,690% compared to the average volume of 308 call options.

Evolv Technologies Price Performance

Shares of NASDAQ:EVLV opened at $3.44 on Wednesday. Evolv Technologies has a 1 year low of $2.01 and a 1 year high of $5.73. The business has a 50 day simple moving average of $3.43 and a two-hundred day simple moving average of $3.18. The firm has a market capitalization of $541.97 million, a PE ratio of -24.57 and a beta of 1.34.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Evolv Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 7,193,962 shares of the company’s stock valued at $32,013,000 after purchasing an additional 407,396 shares during the period. Key Colony Management LLC boosted its holdings in shares of Evolv Technologies by 12.1% in the third quarter. Key Colony Management LLC now owns 5,061,463 shares of the company’s stock valued at $20,499,000 after purchasing an additional 545,492 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Evolv Technologies by 14.4% in the third quarter. Geode Capital Management LLC now owns 2,820,747 shares of the company’s stock valued at $11,426,000 after purchasing an additional 355,611 shares during the period. State Street Corp boosted its holdings in shares of Evolv Technologies by 3.0% in the third quarter. State Street Corp now owns 2,663,078 shares of the company’s stock valued at $10,785,000 after purchasing an additional 78,775 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Evolv Technologies by 20.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,153 shares of the company’s stock valued at $3,743,000 after purchasing an additional 158,877 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EVLV. Northland Capmk cut Evolv Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 28th. TD Cowen cut Evolv Technologies from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 28th. Lake Street Capital reduced their price objective on Evolv Technologies from $3.50 to $2.75 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Northland Securities lowered Evolv Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Evolv Technologies presently has a consensus rating of “Hold” and an average target price of $5.60.

About Evolv Technologies

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.